KMT presidential candidate Eric Chu has proposed his policies for boosting Taiwan’s industries. He’s calling them “three bows and four arrows”, saying that they can help develop a Taiwan supply chain that can both compete with and work with China’s “red supply chain”.
“We will establish a market for Taiwan," said Chu.
"We must build Taiwan into a free economy. Of course, make the whole world our market. Simply put, we are going to sign FTAs with many countries. We are going to join the TPP and RCEP, to become part of the global market.”
Chu said the policies are led by three strong bows, which can shoot four arrows. The first arrow is continued investment in technology. The second focuses on “industry 4.0”, while the third is to make the island a free economy.
As for the “four arrows”, those include: an autonomous supply chain for Taiwanese brands; import substitution as a strategy for upstream technologies and materials; ensuring the irreplaceable role of Taiwan’s downstream suppliers; and differentiating products.
Chu said the effects of the policies might not be immediately clear, but that they will gradually emerge.